Ceiling Tiles Market Assessment Covering Growth Factors and Upcoming Trends by 2026
Decorative exterior and interior trends in the construction industry have impelled the adoption of advanced printing and designing technologies in building materials market. Ceiling tiles and panels seek extensive adoption in interior construction, so as to improve the overall acoustic insulation and aesthetics. Acoustic insulation has been playing a radical role in demand for ceiling tiles, with technological breakthrough leading to greater use of ceiling tiles, particularly in developed countries of Europe and North America.
Ceiling tiles are produced by using naturally occurring raw materials that are abundantly available and are renewable. This has substantially reduced the product cost of ceiling tiles, enabling vendors to sell them at most economical prices. With their property of high reflectance capacity, ceiling tiles reflect over 80% light rays, which in turn help in saving nearly 20% energy consumption. Thermal mass in few types of ceiling tiles absorb daytime heat that is released to the room at nighttime, thereby enabling consumers to curtail their overall cost for cooling, heating, and lighting.
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According to a new analytical report of Fact.MR, the global ceiling tiles market is foreseen to reflect an impressive 9.5% value CAGR through the period of forecast, 2017 to 2026. Global sales of ceiling tiles are estimated to reach nearly 12,000 Million Sq. Ft. by 2026-end. Apart from energy and cost savings, ceiling tiles impart incredible interior finish to residential as well as commercial buildings, making them aesthetically appealing.
Mounting Demand for Commercial Spaces to Drive Demand in APEJ
Demand for commercial buildings has witness a steep rise over the past couple of years. Developing nations in Asia-Pacific excluding Japan (APEJ) such as India, China, and South Korea, as well as those in the Middle East have been making heavy expenditure on commercial spaces, including manufacturing plant construction, and institutional buildings.
India will continue to be at the forefront of APEJ’s construction industry, with infrastructure accounting for bulk share of the construction activities. Reduced interest rates have encouraged consumers in the country to make investments in real estate. This has further prompted several builders to commence both commercial and residential projects, thereby creating opportunities for ceiling tiles.
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PVC Ceiling Panels Gaining High Popularity
Decorative PVC panels have gained immense traction over the recent past, as one of the most beneficial and affordable materials for installing on ceilings. Greater reliability, termite resistance, and longer lifespan are key attributes of PVC ceiling panels that have propelled their demand in the construction sector. Available in a broad range of colors and patterns, PVC ceiling panels are robust, lightweight, and facilitate handling and installation, devoid of the requirement for special tools.
As easy-to-maintain PVC ceiling panels require lesser human resources, the overall cost of the product is remarkably reduced, thereby resulting into higher demand. In addition, PVC panels complement ideal overall temperature of residential or commercial spaces, which in turn enhances efficiency of air conditioners. Fire resistance property of the 100% anti-mold PVC panels has made them increasingly preferable for ceilings and walls of commercial buildings.
Development of application-specific and innovative products has remained a key strategy among prominent manufacturers of ceiling tiles, in order to attain strong market position and realize optimum business expansion. For example, Rockfon had lauched a new ceiling tile made from stone wool suitable for filming, music, and live performances, under the brand – Cinema Black, for applications in commercial spaces such as auditoriums, theatres, and restaurants.
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